Funds are available for restaurants in Alaska affected by pandemic
The US Small Business Administration (SBA) is now accepting applications for the Restaurant Revitalization Fund (RRF). Entities can apply through SBA-recognized outlets or directly to the SBA through an online application portal. I encourage all eligible businesses in need of relief funding to apply today!
The American Rescue Plan Act established the RRF to provide funding to help restaurants and other eligible businesses keep their doors open by providing funding equal to their pandemic-related loss of revenue of up to $ 10 million per business. . As long as the funds are used for qualifying expenses by March 11, 2023, the funds do not need to be repaid.
Eligible entities that have suffered loss of income from a pandemic include restaurants, food stands, food trucks, food carts, caterers, bars, lounges, lounges, taverns, bars snacks and non-alcoholic beverages, bakeries, breweries, tasting rooms, taprooms, breweries, microbreweries. , wineries, distilleries, inns with on-site sales of food and drink to the public, and licensed facilities or premises of an alcoholic beverage producer where the public can taste, taste or purchase products. Registration with SAM.gov is not required, and the entity does not need to have a DUNS or CAGE ID.
FRR funds can be used for specific expenses, including payroll, mortgage and rent payments, debt servicing, utility payments, maintenance expenses, construction of outdoor seating, business supplies, business food and beverage expenses, covered supplier costs, and operating expenses.
The SBA has prioritized small businesses that are at least 51% owned by women, veterans, or socially and economically disadvantaged people: $ 500 million is reserved for applicants whose gross revenues in 2019 do not exceed $ 50,000; $ 5 billion for applicants with gross receipts in 2019 of up to $ 500,000; and $ 4 million for applicants with 2019 gross receipts between $ 500,001 and $ 1.5 million.
Julie anderson is the commissioner of the Alaska Department of Commerce, Community and Economic Development.